GM Readers!📪 It's BitDegree Insider, and it's time to refresh our knowledge.
⭐️Today's selection:
- 🥊Bankrupt Companies Brawl
- 🍾'Big Win' For Crypto In LBRY Case
- 😎Cool Fact Tuesday
- 👌Selected Meme of The Day
- 📰Bite-Sized News
BANKRUPT CRYPTO COMPANIES BRAWL
So two bankrupt companies walk into a bar...
Infamous, and infamously collapsed Alameda Research is suing another bankrupt company, Voyager Digital.
The Alameda team wants to recover more than $445 million in loan obligations, a loan that Alameda made to rescue the "crypto" company.
The court filing states that the amount of the claim could grow "if Alameda proves additional payments to Voyager."
They also want to recover all legal fees at their expense. The case will be heard in federal bankruptcy court in Delaware.
Alameda Research is one of the key companies around which the FTX empire was built.
And it Alameda's scandals that began the decline of Fried's entire business began.
Therefore, Alameda's lawyers believe Voyager played an important role in the failure of FTX and Alameda.
They even called Voyager a "feeder fund" that engaged in reckless investment.
Well... tell me about a friendship that turned sour.
TL;DR: Two bankrupt crypto firms, Alameda Research and Voyager Digital are about to face each other in court. Alameda Research seeks to recover $445M in loan obligations that the company lent to Voyager Digital in an attempt to 'save' the company.
BIG WIN FOR CRYPTO IN SEC VS LBRY CASE
The United States Securities and Exchange Commission (SEC) has just admitted something that is regarded as a precedent for further legal crypto proceedings.
The SEC has admitted that the sale of LBRY Credits (LBC) tokens in the secondary market does not constitute a security.
Now that's big.
The news follow the settlement from LBRY vs. SEC case hearing on January 30.
The crypto community regard this as a win, a win for the crypto industry against the SEC.
Since such progress echoes the problems of the infamous SEC vs XRP case, where Ripple is trying their hardest to prove that XRP is not a security.
So the XRP community can see a light at the end of the tunnel. XRP could prove that the token's not a security.
Therefore any fines and regulations that apply to assets that can be legally regarded as securities would not be applied to XRP, therefore making The SEC's allegations false.
XRP holders are happy, since if the case ends in favor of Ripple and XRP... the coin's value is most probably about to increase.
TL;DR: The SEC settles security claim in the case of LBRY Credits (LBC) tokens. Sale of these tokens in the secondary market does not constitute a security. This is a huge win, since it's sets a precedent, and makes it easier for Ripple to prove that XRP has hope in the SEC vs Ripple case.
COOL FACT TUESDAY
It's Tuesday. It's time for some cool stuff.
Green numbers tell us that investors believe in bitcoin again.
In January, weekly investments in the king of cryptocurrencies reached $117 million. The highest since last July.
The market has steadily started to regain ground after the FTX earthquake. The price of bitcoin rose nearly 40% from January 1 to January 27.
What do you think. Is Bitcoin about to really gain that speed?
SELECTED MEME OF THE DAY
